Calculating Depreciation The Miller Company purchased a new headquarters building on January 1 at a cost of $40 million.
The building is expected to last 20 years, at which time its residual value is expected to be $5 million.
Cost of Building $ 40,000,000
Salvage Value $ 5,000,000
20 year depreciation schedule
Straight-line depreciation Depreciation Expense Accumulated Depreciation Net Book Value (Cost of Asset less Accum. Dep)
Year 1
Year 2
Year 3
Double Declining depreciation [2/20 = 10%] Depreciation Expense Accumulated Depreciation Net Book Value (Cost of Asset less Accum. Dep)
Year 1
Year 2
Year 3

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?

Which term best describes the statement given below? if p = q and q = r, then p = r

What criteria does a company have to meet to be considered a monopoly?